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040 _aES-MaIEF
_bspa
_cES-MaIEF
041 _aeng
100 1 _966080
_aKataryniuk, Iván
245 0 _aFiscal consolidation after the Great Recession
_bthe role of composition
_c by Iván Kataryniuk and Javier Vallés
260 _c2018
500 _aDisponible en formato electrónico a través de la Biblioteca del IEF.
500 _aResumen.
504 _aBibliografía.
520 _aWe have examined the fiscal consolidation episodes in a group of OECD countries from 2009 to 2014. The range of the estimated short-term fiscal multiplier runs from 1.2 to 2.0, larger than those obtained in more ‘normal times’, implying that the contractionary effect has been larger in depressed environments. Nevertheless, we also found that revenue measures have a higher and more persistent real impact than expenditure measures, which is more consistent with the influence of current consolidations on the expectations about the future path of fiscal policies (the expectations channel). This result suggests that expenditure cuts are less harmful for the economy than tax hikes.
650 4 _955516
_aCRISIS FINANCIERA
650 4 _948067
_aPOLITICA FISCAL
650 4 _947460
_aIMPUESTOS
650 4 _940606
_aCONSOLIDACION
650 4 _944787
_aGASTO PUBLICO
650 4 _941783
_aDEFICIT PUBLICO
650 4 _948220
_aREDUCCION
700 _9133
_aVallés Liberal, José Javier
773 0 _9156062
_oOP 286/2018/2
_tOxford Economic Papers
_w(IEF)120956
_x 0030-7653
_g v. 70, n. 2, April 2018, p. 563-585
856 _uhttps://watermark.silverchair.com/gpx032.pdf?token=AQECAHi208BE49Ooan9kkhW_Ercy7Dm3ZL_9Cf3qfKAc485ysgAAAbwwggG4BgkqhkiG9w0BBwagggGpMIIBpQIBADCCAZ4GCSqGSIb3DQEHATAeBglghkgBZQMEAS4wEQQMhiNihv9J4K4lSuT0AgEQgIIBb7RyAJ2rVXy9RaeX06ab0uS8NJwpv2AykgEKadQdRVxOUbibagxt3ZRoRy5tfTaVOCpYxuTCNL1I2R4U_llgZhPOlPnzuYQ5ZHIOTpviWObzUeE0JNQfS8M9WOwIyCi9zORb0XEJfR66G6Ub_9AahmhZEkuKYLFw2EoKUmWnhWUVEOGS6LGovvT7-RDh198F7UNKjlTZQtIxJfvh7OEmuKLCisErQoCSnUi9rYIXWbCOxMXz-pXNPKqWV_hpVHSqLrn5XrAmVg5xDV_8Bg5KrHdJTHer34_jJZxdebDshuAmzEdsavXTMkdKjoaNu2xiJTghh0wJsA4Q37blApuFFaS06QUp74tNi5qtmkk-9rmXO-yycF1jLuoQHHwKqrxpcBHRdSDSz2r2cHNcpW--c5d64l5QwYWaA4qUsZRzV7eNlKbp-0QDWKpQn-uYlFS3HbHIfaJsEHHr6Q-D6ouY4psWcBw1GbQqZPMPZK44qmg
942 _2udc
_cART